It is really easy to get me to like you: be smart, take action and laugh. Today, I am so fortunate to get to spend some time discussing the future of oil and gas with two people in the industry I truly respect and value, but also like. In my opinion, Vicki Hollub and Tisha Schuller see the challenges our industry faces for what they are and take action with an eye on the future (to steal a phrase from Tisha). One of my...

Of all the things I’ve learned since the beginning of the apocalypse, from how much booze my friends drink (recycling day brings less relief) to how much you want something when you can’t have it (TP, live sports, eating out, living...), the biggest has been about K-12 education. Parents can attest their experiences during “The Great Lockdown” have been varied: between schools, ages, and teachers, but to me, it has illuminated the huge gap in education between public and private. My...

The world changed March 7th. It was, in a moment, the icing on the cake of a truly horrible 18 months, one which many private equity firms wish they could erase.  The energy space has been, in many ways, led by private equity since 2005, mobilizing more quickly and creatively than public companies and reaping handsome rewards for investors and the management teams that executed. From 2005-2014, scarcity drove commodity prices higher, horizontal wells and fracing provided the fuel, and...

Today the #hottakeoftheday podcast talks with Josh Young, Founder, Managing Partner, and Portfolio Manager of Bison Interests, for a wide ranging discussion on the market, investments, what’s next for oil and why an investment thesis works... until it doesn’t. Interview   Podcast Audio   Josh Young official bio CO-FOUNDER and Chief Investment Officer, Bison Interests Josh is a Co-Founder of Bison Interests and serves as its Chief Investment Officer, leading Bison’s research and investment process. He is focused on idea generation, investment strategy and portfolio construction....

As the economy begins to open, I feel most excited for the entrepreneurs who have decided to take control of their life, their livelihood and their future by starting a business. I love entrepreneurs, not only because I am one, but because they are the engine that built our country.   I even designed a fool proof test to see if you are one, too!  Every company we revere was started by someone just like you.  In their garage or...

The great Jack Bogel, the father of low fee ETFs, famously suggested that people would be better off owning a diversified index than picking stocks, as they would return in 30 years and discover their investments were worth more.  That’s not investment advice, that’s just what the market has done over the course of history and very few investors have consistently beat the index. The subtext to that advice is that companies do well, until they don’t (remember Yahoo!), and...

When the business climate can change so quickly, or technology can make your product obsolete in a matter of months, having a right compensation plan, strong board and guiding mission can be useful for managing a crisis like COVID.  Today I was joined by Seymour Burchman and Blair Jones of Semler Brossy to talk about Seymour’s article, and they way to think through designing companies for the future. Join me for this wide ranging discussion where we talk about many...

The parade of Q1 earnings continue and while there have been some interesting tidbits (Amazon to use profits to fight COVID in a pre-anti trust move and Elon ranting about fascists, taking the words right out of my mouth), the real fireworks won’t start until Q2. In oil and gas, Exxon and Chevron both announced today and continue the trend of capital reductions, taking another $13b out for Q3 and Q4. But, I’m being positive this week, so I did...